Thoma Bravo’s $5.1B Medallia Wipeout:

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Hedge Fund Private Equity

Thoma Bravo’s $5.1B Medallia Wipeout:

hedgeco

2 months ago

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(HedgeCo.Net) In what is rapidly becoming one of the most closely watched restructurings in private markets, Thoma Bravo is nearing an agreement to hand control of Medallia to its lenders—marking a $5.1 billion equity wipeout and a stark reminder of the risks embedded in high-leverage software buyouts.

The creditor group expected to take control includes some of the most powerful players in alternative asset management, notably Blackstone, KKR, and Apollo Global Management. The transfer of ow...

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